New program to support start-up tech companies

Toronto, ON – Ontario’s government says it is funding the creation and expansion of angel investor networks that will help the provinces leading-edge start-up companies grow.

The government is spending $2.5 million to build and expand angel investment networks across the province. The National Angel Organization (NAO) will work with the Ministry of Research and Innovation, MaRS, the Ontario Centres of Excellence and others to ensure angel investors and start-up high-tech companies are linked together through the networks. This will help identify and nurture opportunities for investment in promising technologies.

The NAO is a not-for-profit organization that represents and supports Canadian angel investors by providing them with opportunities to network and share best-practices for successful investment in startups.

“The National Angel Organization is delighted to work in partnership with the Ministry of Research and Innovation to foster the formation of new angel groups in Ontario,” says W Daniel Mothersill, president of the NAO. “Angels invest in start-up companies at a critical stage of their growth and are key to the creation of a vibrant economy.”